MEXICO CITY: American electric car maker Tesla will invest about US$5 billion in a massive new factory in the northern Mexican city of Monterrey, a senior government official said Tuesday.
The move, which has yet to be confirmed by Tesla, would be a major boost to Mexico’s hopes of benefiting from US companies choosing nearby countries over Asia for their manufacturing operations.
“We brought to Mexico an investment of more or less $5 billion for the construction of the largest electric vehicle plant in the world,” Martha Delgado, undersecretary for…
